Ethic Inc. Buys 95 Shares of AutoZone, Inc. $AZO

Key Points

• Ethic Inc. increased its holdings in AutoZone by 4.7% during Q1, now owning shares worth $8.08 million.
• Numerous institutional investors have altered their positions, with an overall 92.74% of the company's stock being owned by institutional investors and hedge funds.
• AutoZone's most recent earnings report showed a missed EPS target of $35.36 compared to an expected $37.07, despite a revenue increase of 5.4% year-over-year.

Ethic Inc. raised its position in AutoZone, Inc. (NYSE:AZO - Free Report) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,120 shares of the company's stock after buying an additional 95 shares during the period. Ethic Inc.'s holdings in AutoZone were worth $8,083,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in AutoZone by 0.8% in the first quarter. Vanguard Group Inc. now owns 1,759,862 shares of the company's stock valued at $6,709,967,000 after buying an additional 13,643 shares in the last quarter. JPMorgan Chase & Co. boosted its position in AutoZone by 7.5% in the first quarter. JPMorgan Chase & Co. now owns 936,401 shares of the company's stock valued at $3,570,296,000 after buying an additional 65,368 shares in the last quarter. GAMMA Investing LLC boosted its position in AutoZone by 435,031.1% in the first quarter. GAMMA Investing LLC now owns 770,182 shares of the company's stock valued at $2,936,535,000 after buying an additional 770,005 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in AutoZone by 5.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 324,616 shares of the company's stock valued at $1,039,421,000 after buying an additional 17,518 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in AutoZone by 14.6% in the fourth quarter. Deutsche Bank AG now owns 204,822 shares of the company's stock valued at $655,840,000 after buying an additional 26,036 shares in the last quarter. 92.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other AutoZone news, SVP K. Michelle Borninkhof sold 750 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $3,597.13, for a total value of $2,697,847.50. Following the completion of the sale, the senior vice president owned 406 shares of the company's stock, valued at approximately $1,460,434.78. This represents a 64.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Craig Smith sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $3,875.90, for a total transaction of $11,627,700.00. Following the completion of the sale, the vice president directly owned 2,925 shares of the company's stock, valued at $11,337,007.50. The trade was a 50.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,862 shares of company stock worth $126,058,789 over the last three months. Company insiders own 2.10% of the company's stock.

AutoZone Trading Up 2.2%

Shares of AZO traded up $88.7410 on Tuesday, reaching $4,128.6910. 110,013 shares of the company's stock were exchanged, compared to its average volume of 131,202. AutoZone, Inc. has a 12 month low of $2,898.57 and a 12 month high of $4,138.36. The stock has a market capitalization of $69.28 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 2.39 and a beta of 0.38. The business has a 50 day moving average price of $3,772.66 and a two-hundred day moving average price of $3,675.33.

AutoZone (NYSE:AZO - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $35.36 EPS for the quarter, missing the consensus estimate of $37.07 by ($1.71). AutoZone had a net margin of 13.56% and a negative return on equity of 56.07%. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.41 billion. During the same period in the previous year, the company posted $36.69 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts predict that AutoZone, Inc. will post 152.94 EPS for the current year.

Analyst Ratings Changes

AZO has been the topic of a number of research reports. Wall Street Zen upgraded shares of AutoZone from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. BMO Capital Markets reiterated an "outperform" rating and set a $4,100.00 target price (up from $3,850.00) on shares of AutoZone in a research report on Wednesday, May 28th. Evercore ISI upped their target price on shares of AutoZone from $4,060.00 to $4,250.00 and gave the stock an "outperform" rating in a research report on Monday. Guggenheim upped their target price on shares of AutoZone from $3,850.00 to $4,100.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Finally, Bank of America upgraded shares of AutoZone from a "neutral" rating to a "buy" rating and upped their target price for the stock from $3,900.00 to $4,800.00 in a research report on Wednesday, May 21st. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, AutoZone has an average rating of "Buy" and a consensus target price of $4,101.29.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.